STELRAD LIMITED
Company number: 02263368
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 30 January 2024
and approved by Annette Borén
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 51%
- in 61 days or more: 18%
Invoices due but not paid within agreed terms: 3 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
75 days
Standard payment terms
Payment terms range between 30 days from the date of invoice to 60 days end of month (75 days average)
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Suppliers may raise disputes by emailing or calling a dedicated email address or telephone number. Our dispute resolution procedure is as follows: Invoices in dispute are placed on hold and then discussed between the accounts department, cost centre manager and the supplier. Once resolved they will go on the next available payment run in accordance with payment terms.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
Does this business offer e-invoicing in relation to qualifying contracts? This is where suppliers can electronically submit and track invoices. It’s not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance? This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No